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Consistent Forecasting For The 1980'S In State Iron Industry Development, Raymond L. Raab, Richard W. Lichty

Journal of the Minnesota Academy of Science

A large-scale model, SIMLAB, was used to project the iron ore industry through the decade of the 1980's for the state of Minnesota. This forecast shows that past trends in the industry are unlikely to continue through 1990, although output is seen to increase slightly during this period. Future studies will deal with different development scenarios to estimate the impacts of alternate future assumptions from this baseline trend analysis.